US stock indexes gave up most of their gains on Wednesday as investors reassessed the outlook for US monetary policy following inflation data, while focus shifted to minutes from the Federal Reserve's March meeting. Stock futures rallied close to 1% and Treasury yields slid after data showed US consumer prices barely rose in March as the cost of gasoline declined. However, the major benchmarks shed gains quickly, briefly turning lower, as investors focused on underlying inflation pressures which rose in line with economists' estimates.

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